SAVINGS SCHEDULE Sample Clauses

SAVINGS SCHEDULE. 1. For the Project, as provided in Section 1.8 regarding Year 1 and other matters, Section 3.2 regarding the Savings Schedule, and elsewhere in this Agreement, there is a schedule of Payment Percentages and correlative Savings Percentages as provided in the table in Paragraph 3, below. 2. For each Year in the table below, the Company will pay amounts equal to the corresponding Payment Percentage, set forth below, of the normal ad valorem property taxes that would be payable if legal title to the Project were vested in the Company, instead of the Auth ority on January 1 of such Year. The corresponding Savings Percentage is 100% less the Payment Percentage. Such payments shall constitute payments in lieu of taxes. No payments in lieu of taxes are required for tax years prior to Year 1 (i.e., during the construction period). 3. The applicable Payment Percentages and Savings Percentages are as follows: Year Savings Percentage Payment Percentage 4. The savings applies to all ad valorem property taxes (school, county, state and other) with respect to property comprising part of the Project titled to the Authority in connection with the issuance of the Project Bond. The Company shall pay normal property taxes with respect to property not so titled to the Authority. There are no property tax savings for special assessments. For the avoidance of doubt, replacements and substitutions of Improvements or Equipment during the Term which are conveyed by the Company to the Authority, or become titled in the Authority by operation of law, such that the same becomes a part of the Project leased under the Project Lease, shall be subject to the savings provided in this Savings Schedule at the level stated in the table above for the Year of replacement or substitution, all as will be further provided in the Project Lease.
Sample 1
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SAVINGS SCHEDULE. 1. The Company is not required by this Agreement to make any payments in lieu of taxes for tax years after the tax year of the Effective Date. 2. For each Year in the table below, the Company will pay to the Tax Commissioner of the County, for distribution to the appropriate taxing authorities in accordance with their applicable millage, amounts equal to the corresponding payment percentage, set forth below, of the normal ad valorem property taxes that would be payable if legal title to the Project were vested in the Company instead of the DDA, on January 1 of such Year. The corresponding savings percentage is 100% less the payment percentage. Such payments shall constitute payments in lieu of taxes. 3. The applicable payment percentages and savings percentages are as follows: YEAR SAVINGS PERCENTAGE PAYMENT PERCENTAGE 16 and thereafter 0% 100% 4. The savings applies to all ad valorem property taxes (school, city, county and other) with respect to property comprising part of the Project titled to the DDA in connection with the issuance of the Bond. The Company shall pay normal property taxes with respect to property not so titled to the DDA. 5. Each Year during the term of this Agreement, the Company shall: (i) obtain from the County Board of Tax Assessors of DeKalb County (the “Assessors”) the assessed value of the Project for such Year based on the fair market value of the Project, pursuant to O.C.G.A. Section 48-5-7, as amended, and (ii) calculate the amount of taxes that would have been due by the application of all millage rates applicable in the City (school, city, county, and other) for such Year as though legal title to the Project were held by the Company, and report the same to the DDA, promptly after such assessed value is available. Such report shall also calculate and state the amount of the ad valorem property taxes for such Year saved by it by virtue of the Savings Schedule (offset by the amount of any payments in lieu of taxes and by the amount of any administrative payments), the cumulative amount of saved ad valorem taxes to date, and the amount payable to the Tax Commissioner as payments in lieu of taxes pursuant to paragraph 2, above. The Company shall provide such supporting documentation as the DDA may reasonably request regarding the Company’s calculations in the foregoing report. Such calculations, and the underlying support, data and methodology, shall be subject to approval by the DDA, and if disapproved, the DDA shall make its ow...
Sample 1
SAVINGS SCHEDULE. The Company is not required by this Agreement to make any payments in lieu of taxes for tax years after the tax year of the Effective Date but prior to Year 1; i.e., the Project’s construction period.
Sample 1
SAVINGS SCHEDULE 
Sample 1

Related to SAVINGS SCHEDULE

  • Compensation Schedule Except as otherwise provided herein, employees shall be compensated within the pay range assigned to the classification of the position in which they are employed and in accordance with the pertinent conditions of employment enumerated in this Agreement. Sec. 503 REGULAR PAY DAY: Employees shall be paid on or about the Friday following the end of the biweekly payroll period.

  • PROGRESS SCHEDULE The Contractor, within ten (10) working days of receiving notice of the award of the contract, shall prepare and submit for the State's and Architect's information an estimated progress schedule for the Work. The progress schedule shall be related to the entire Project to the extent required by the Contract Documents, and shall provide for expeditious and practicable execution of the Work.

  • Wage Schedule ‌ The pay rate (including increments and stated extras) as agreed to and hereinafter in this Schedule provided, shall be in effect during the term of the Agreement, from April 1, 2019 to March 31, 2022.

  • Holiday Schedule The Parents agree to divide holiday visitation as follows: (check all that apply) New Year’s: ☐ Mother ☐ Father

  • Vacation Schedule 1. Vacation periods shall be fixed by the Employer to suit the requirements of his business, but as far as possible and practicable, vacations will be given during the summer months, and for employees with school-age children, during the school vacations. Vacation periods shall be unbroken unless by mutual consent between Employer and employee, or where it is impractical. Grievances relating to this Section shall be subject to the Adjustment and Arbitration Procedure in this Agreement. 2. Time off, based upon service in the Industry Vacation Plan, may be granted to an employee by mutual agreement between the Employer and the employee. The Employer shall not be required to give time off based upon service under the Industry Vacation Plan. However, if such additional industry vacation time off is granted to an employee, such time off shall be counted as time worked for the purpose of computing the employee's earned vacation benefits on his next anniversary date of employment.

  • Salary Schedule The salaries of employees covered by this agreement are set forth in the salary schedule in Appendix A which is attached to and incorporated into this agreement.

  • Flexible Work Schedule A flexible work schedule is any schedule that is not a regular, alternate, 9/80, or 4/10 work schedule and where the employee is not scheduled to work more than 40 hours in the "workweek" as defined in Subsections F. and H., below.

  • Shift Schedule The words "shift schedule" when used in this Agreement shall mean a timetable of the shifts and off days assigned to a position or group of positions which commences at the beginning of a pay period and includes one complete rotation of said shifts.

  • Pay Schedule 50.01 The regularly scheduled pay day shall be bi-weekly, every other Friday. Pay shall be by direct deposit to the employee’s financial institute as on record with the Employer, with an electronic pay statement issued to the employee on or before the pay date. 50.02 The employee’s pay stub shall be delivered to the employee’s workplace and distributed to the employee on or before the specified pay date. 50.03 Employees shall be paid in accordance with Schedule “A” of this agreement.

  • Payroll Deduction Schedule The Board will deduct the representation fee in equal installments, as nearly as possible, from the paychecks paid to each employee on the aforesaid list during the remainder of the membership year in question. The deductions will begin with the first paycheck paid:

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